How should you price your ebook to sell on Amazon?

Authors,

Pricing is a challenge.

I am not looking at this from the profit, I am looking at how the words God blessed you with will be read. Will you audience be 1 reader, 100 readers, or 100,000 readers?

If you wrote well, then marketing and pricing are important to spread your story.

The following is from Molly Greene.

Per Smashwords’ Mark Coker, authors may be underpricing Smashwords CEO Mark Coker’s May 2013 Booklovers Convention presentation revealed important points gleaned from his platform’s data. In the presentation he ponders the question, “… is $3.99 the new $2.99?” noting there are “fewer titles to compete against at $3.99, and authors appear to pay no penalty in terms of sales volume.” Per Coker, “I see untapped opportunity [at the $3.99 price point], where indies may be able to raise prices but not suffer unit decline.” He concludes “some authors are underpricing.” Smashwords data also reveals …

$.99 remains popular, but shows a big drop compared to their 2012 study.
$.99 to $1.99 underperforms in terms of earnings. (Per Coker, $1.99 is “a black hole.”)
$2.99 is the most common price point with indies.
$2.99 to $6.99 is the sweet spot for maximum earnings.

Indies have virtually abandoned the $9.99 price point compared to 2012’s study.
Note this important takeaway: “Data-driven publishing decisions are irrelevant without a great book. Write the greatest masterpiece you can, and then review the data for ideas that at best might enable you to add incremental improvements to reader enjoyment, accessibility, and word-of-mouth.”

….
Per author Cheryl Bradshaw, ditch “free” and go with 99 cent promotions

This non-profit chose $2.99 discounted to $1.49 for their promotion.

BubbleCow.

Laura wrote that $2.99 sells four times as many books as $1.99. Gigaom.

So, it would seem that if you want to reach more people, between $2.99 and $3.99 is the price point you want to choose.

If that allows you to sell four times as many ebooks, then you can afford to have someone design a great cover, and an editor to make your words shine.

Quality added to a great price point, and some advertising should get your words maximum exposure.

Have you tried self-publishing yet? Have you published an e-book?

Or, are you still trying to decide?

Wayne

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